Today I will take you to learn about NUTS in the Solana ecosystem
After experiencing the bear market and the FTX crisis, Solana regained its position among the top five in market capitalization. Among them, FDV’s JUP surpassed UNI. Meme coins such as BONK and SILLY brought a lot of income to early investors. Now let’s focus on NUTS, which has the potential to become the next alpha in the Solana ecosystem.
What is NUTS
NUTS is the first token of the Tiny SPL protocol, issued through Free Mint, with a total supply of 21 million and a current valuation of $8 million. $NUTS benefits from the unique features of Tiny SPL and can implement cNFT (Deez Nuts ) and FT ($NUTS) to enhance the liquidity of NFT.
The value of NUTS
To grasp the value of $NUTS, you must first understand the value of the Tiny SPL protocol. This innovative token protocol reduces Solana data storage costs through state compression, solving the high costs and network congestion issues associated with large-scale airdrops. Tiny SPL received active support from Solana co-founder toly on the day it was released.
Solana Value Reflection
To grasp the value of $NUTS, one must first understand the value of the Tiny SPL protocol. This innovative token protocol reduces Solana data storage costs through state compression, solving the high costs and network congestion issues associated with large-scale airdrops. Tiny SPL received active support from Solana co-founder toly on the day it was released.
Development background of NUTS
The developer behind NUTS is a full-stack engineer at Web3 payment company Sphere. In just over 20 days, they launched many functions such as free coin minting, batch merging, fractional splitting, and AMM swaps, and gained widespread support from the community. The next few weeks will focus on open sourcing the Tiny SPL protocol, working with wallets, and developing new applications.
Additionally, NUTS has simple and easy-to-understand meme properties with its image of two peanuts 🥜🥜
Elon Musk’s use of the peanut emoji on January 29 brought a new wave of traffic and attention to the NUTS community.
Similar to Ordinals, all metadata for Tiny SPL tokens, including $NUTS, is stored on-chain. Although some community users regard NUTS as the equivalent of Solana and ORDI, we believe that NUTS has greater potential for technological innovation, and it is expected that there will be more applications and gameplay in the future. We remain optimistic about the development of the Solana ecosystem and that NUTS may indeed become the next big alpha.
The above is the information about NUTS summarized by Haonan for everyone. It is only used as a personal opinion and not as investment advice. If any friends want to know other token information, you can also leave me a message in the comment area. If I have the latest consultation , and will be released for everyone to see as soon as possible
